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Theta Network

Irish_rat

Note: Not shilling, just information, DYOR. Thread dedicated to Theta.

What is Theta:

Theta Network is the leading video delivery network powered by blockchain technology.

Theta allows users to watch video content and earn token rewards for relaying video. Now users can relay content without watching video using edge nodes. Rewards are paid out in Tfuel.

Theta’s unique multi-BFT consensus network consists of:
Enterprise Validator Nodes
Community-run Guardian Nodes. Stake 1k min.

Community-run Edge Nodes. Free to use for anyone, no stake required.

Guardian Nodes:

Validator Nodes propose and produce new blocks in the chain. Run by Google, Samsung, Binance, Theta Labs etc

Guardian Nodes seal blocks and act as a check on malicious non-functional Validator Nodes.

To run a GN first you need to download the Theta Web Wallet. Also available on Mobile.

Go to an exchange and buy Theta and transfer to wallet. The public address is same for Theta and Tfuel.

The minimum stake for GN has been reduced from 10k to 1k Theta earlier this month. Note: If you do not want pc running 24/7 you can delegate your stake to GPOOL. No fees currently.

Click here to view earnings from staking

Edge Nodes:

This is the most popular node used by the community. The growth of edge nodes is insane, was only 1500 nodes late October to now 5000.

It is free to use and download by anyone. No stake required. Just a pc and your theta wallet setup.

The tfuel earnings you make each month are transferred to your public address.

The edge node originally consisted of the Edge Cache which you relay video bandwidth to other users in your area. This has been okay but not a lot of users in Ireland use Theta.TV.

A new addition has been sharing your PC power in conjunction with folding at home.

This is a distributed computing project aimed to help scientists develop new therapeutics for a variety of diseases by the means of simulating protein dynamics. This includes the process of protein folding and the movements of proteins, and is reliant on simulations run on volunteers' personal computers.

This is my edge node at work currently:

Theta TV

The Theta.TV platform is really a test bed to demonstrate the capabilities of it's CDN. It's the network where the potential is.

However while the app is not the best, the web player is pretty good. Video on demand has been added recently which has been a game changer.

Note: you can earn tfuel here watching streams but only donate it to other content providers or spend it in the shop. You cannot move it off externally to another wallet so most folks here will only be interested in the GN and EN

Hopefully that answers some questions raised in the main crypto thread.

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Comments

Ronan|Raven

yabadabado wrote: »

Only realized this thread was here today.I bought some back in December on Binance.

I know nothing about Tfuel or Theta really so just wondering is there something I should be doing when I already owe Theta?

I see staking mentioned a lot with crypto but as a newbie I hadn't done anything other than buy some 3 months back.

For staking Theta the minimum amount is 1000
To stake Theta a guardian node is required.

https://docs.thetatoken.org/docs/guardian-node-overview

For staking TFuel the minimum amount is 10000To stake Tfuel an edge node is required.
https://docs.thetatoken.org/docs/setup-theta-edge-node

The rewards for Theta staking are not great at present but should increase a lot after the mainnet 3.0 launch.

https://thetatracker.com/Calculator.aspx to see current rewards for staking Theta.

I dont have the current reward to hand for staking tfuel at present but same as Theta it will increase substantially after mainnet 3.0

You can also "mine" Tfuel using the edge node. No staking required for that to work.

Rob2D

There's huge rewards available for running a EEN. Will post the numbers later when I have time. Was reading about it last month and if you can actually do it you'll pretty much have a livable passive income from this alone.

Ronan|Raven

Rob2D wrote: »

There's huge rewards available for running a EEN. Will post the numbers later when I have time. Was reading about it last month and if you can actually do it you'll pretty much have a livable passive income from this alone.

That would be great if you could.

Some of the numbers I saw floating around for Post April 21st seems to show a daily reward of 17 Tfuel for 10k Tfuel staked.

One other option for staking Theta I forgot to mention is to use gpool.io however for the network to grow it would be better if people could setup their own Guardian Node and stake via it.

Lex Luthor

Daithi40 wrote: »

done.... thanks again

that Tfuel purchase on the 13th Feb must be probably 2.5x by now

Daithi40

Lex Luthor wrote: »

that Tfuel purchase on the 13th Feb must be probably 2.5x by now

Theta +47%
TFuel +186%

Rob2D

This is from a while back in a Patreon group I'm in (I have edited out some parts out of respect):

How A $47,000 Investment Could Create A $2400 Monthly Income For Life

This is why blockchain and cryptocurrencies are here to stay and is the dream investment for many.

Take a look at the chart above (and also attached). This is the estimated TFUEL reward for people who will be running an Elite Edge Node, which is the staking of Tfuel on a dedicated computer running 24/7.

When THETA mainnet 3.0 comes out on April 21st, the Tfuel rewards will go up an estimated 55x from the current pre-EEN rate.

The monthly income is estimated to be close to $2400 from an investment of 500,000 Tfuel, which is approximately $47,000 as I write: $.094 Tfuel x 500,000 = $47K.

This will be a fantastic 'stay at home' opportunity for investors who don't want to buy a franchise. Did you know that the average income for a McDonald's franchisee is a little more than $100,000 per year, and with an investment of $1M to $2M ... plus they have to babysit teenagers!

With a *$200K investment in Tfuel, which would be 1/5th to 1/10th the cost of a McDonald's franchise, an investor would be earning about the same amount, but at a fraction of the cost — and with a lot less hassle.

If you decide to run an EEN or not, I hope you realize that we have a golden opportunity right at our feet.

Running an EEN, as stated above, requires some maintenance, because you'll need to keep the server running day and night, and a reliable internet up-time is important. This is not everyone's cup 'o tea, but for others, this is a dream business.

If you have no plans to run an EEN after Theta mainnet 3.0 (on April 21st), there is still a big opportunity with Theta and Tfuel. All we have to do is stake our THETA, totally hands-off, to earn TFuel, or simply buy Theta and Tfuel, hold onto them, and watch the value rise.

The value will increase because we have the opportunity to buy a 'digital franchise' that others will want to buy from us. What I mean by that is— just by buying and holding Theta and Tfuel, we are taking theses "shares" off the market, drying up supply, and others will want what we have.

In fact, they already do. Tfuel has gone up in price by many multiples.
$.50 Tfuel this year? Let's upgrade that. Recently I said as much as $.80, but I believe we'll see $1+ in 2021.

Mainnet 3.0 - what it means to the price

Look at what happened with the price of Theta prior to mainnet 2.0 back in May of 2020. There was a 5x increase in the price of Theta.

We may see a similar increase in both Theta and Tfuel as we approach the end of April.

Action plan

Get as much Theta and Tfuel as you can up until April 21, 2021.

Buy Up To prices are $5-$10 Theta and $.12 Tfuel (up from $.10).

Remember...

...that staking THETA generates passive, 100% hands-off income, via Gpool. Both Theta and Tfuel have their unique purposes and will become highly sought after in the future.

Details for running an Edge Node: https://docs.thetatoken.org/docs/setup-theta-edge-node

*In order for someone to invest $200K into Tfuel and earn an estimated income of $100K+/yr, they would need 4 separate EEN's, because the maximum you can stake in one EEN is 500K Tfuel (current cost of $47K). This would need to be done by having one user and three other friends or family members located at different IP address to run four EEN's. Most people will be running just one EEN staking between 10K and 500K Tfuel, from their home or business.

Final thought: You can stake as little as 10K Tfuel, which will cost about $940 at the time of this post. If the above chart is accurate, the income generated would be close to $50 per month. This is enough to cover most internet bills and many people will be happy with that.

Rob2D

So I dunno. Maybe the whole thing will amount to nothing. BUT, if someone had the money to spare, it mightn't be the worst thing to gamble on.

THETA and TFUEL were largely immune to the last big dip we had, so they seem resilient enough so far to volitility.

I AM NOT A FINANCIAL ADVISOR :pac: :pac:

Unless this actually turns out to be a home run. In which case I WILL be your financial advisor and my invoice will be on it's way to you in the mail.

connie147

Thanks to Rob for the detailed post. WP

seannash

Is that passive income based on the price of theta staying constant. I assume so

Rob2D

seannash wrote: »

Is that passive income based on the price of theta staying constant. I assume so

Yeah so all those numbers have already all gone way up.

seannash

Rob2D wrote: »

Yeah so all those numbers have already all gone way up.

Oh no I get that. Theres a few ways to make pasisve income out there but the risk is still it all comes down.
For example theres great staking rates on autofarm which could get you a liveable wage for half the investment.

Rob2D

seannash wrote: »

Oh no I get that. Theres a few ways to make pasisve income out there but the risk is still it all comes down.
For example theres great staking rates on autofarm which could get you a liveable wage for half the investment.

Well sure, there's risk with anything. But at least THETA is bona fide.

I wouldn't be putting a tenth of that money anywhere near that DEFI/BSC nonsense. Majority of them are rug pulls.

Irish_rat

yabadabado wrote: »

Only realized this thread was here today.I bought some back in December on Binance.

I know nothing about Tfuel or Theta really so just wondering is there something I should be doing when I already owe Theta?

I see staking mentioned a lot with crypto but as a newbie I hadn't done anything other than buy some 3 months back.

First thing I would do is create a theta wallet and move the lot off binance.

Irish_rat

Rob2D wrote: »

Well sure, there's risk with anything. But at least THETA is bona fide.

I wouldn't be putting a tenth of that money anywhere near that DEFI/BSC nonsense. Majority of them are rug pulls.

Cheers for the detailed information on the EEN. It's food for thought, even 50k tfuel would be interesting to stake. Not a huge commitment by any means.

Daithi40

seannash wrote: »

Oh no I get that. Theres a few ways to make pasisve income out there but the risk is still it all comes down.
For example theres great staking rates on autofarm which could get you a liveable wage for half the investment.

Thanks for that, would you mind giving us more info

yabadabado

Irish_rat wrote: »

First thing I would do is create a theta wallet and move the lot off binance.

I was looking at wallets but thought Binance was safe or at least was one of the more secure options.

djan

Could someone explain the value proposition of Theta in regards to the competition of say Netflix & AWS?

There are already Multiple source P2P torrent file transfer systems without need for tokenisation etc. , so what does Theta actually bring to the table? Happy to be proven wrong but blockchain and decentralisation is not required for everything.

Rob2D

djan wrote: »

Could someone explain the value proposition of Theta in regards to the competition of say Netflix & AWS?

There are already Multiple source P2P torrent file transfer systems without need for tokenisation etc. , so what does Theta actually bring to the table?

Well I wouldn't call Netflix a direct competitor. Something more applicable here would be Twitch. And in comparison to AWS, I assume anyone on THETA would have much more control over things than if they were beholden to Amazon.

djan wrote: »

blockchain and decentralisation is not required for everything.

No but it's nice to have all the same. It opens the door to a lot more people worldwide as anyone can run a server.

THETA are also launching their own NFT marketplace and integrating it into the streaming. Imagine all the big streamers move over and can sell their own NFT's live. Could be big business.

The co-founders of Youtube and Twitch are involved in the project so I'd say they're going to give a good stab at it. But of course you're right to be sceptical. It might never catch on either.

Irish_rat

djan wrote: »

Could someone explain the value proposition of Theta in regards to the competition of say Netflix & AWS?

There are already Multiple source P2P torrent file transfer systems without need for tokenisation etc. , so what does Theta actually bring to the table? Happy to be proven wrong but blockchain and decentralisation is not required for everything.

Theta is a like a little seed its just shooting but will it grow into a full bloom remains to be seen. That is what is like to invest in businesses starting up, you are taking some element of risk but its not exactly high risk anymore.

They will never compete with aws, that's a ridiculous level of scale, but their technology right now is very cost effective for smaller streaming business that want a cheaper cdn. Try their platform and see how much video that is collected from their network vs cdn.

Then you have to think of the work that is going on in the background with Samsung, Sony and Google Cloud. They are not just validators but big investors in the project.

Adoption is the key mantra here and that goes for blockchain in general. It should be regarded as a long term strategy, as in 5-10 years.

djan

Thanks for the replies guys. The video streaming market is hugely competitive so they have their work cut out for sure. I would say from a business perspective, its easier to buy a fixed price streaming service such as vimeo, vixy, youtube, twitch etc. rather than rely on fluctuating tokens.

I agree with the technological usage, but see the tokens as merely a way to raise funds rather than being core to the functionality. Then again, that can be said for many crypto projects!

After having said that must throw a bit in just so that this post doesn't haunt me!

[Deleted User]

Arbitrage opportunity with Theta on Kucoin, where it is currently trading over $0.60 higher than on other exchanges. I think Kucoin have run out of Theta, as they have cancelled withdrawals, but you could transfer Theta to Kucoin, sell for USDT, and buy back on Binance for a handy profit.

ETA: Scrap that. They have also cancelled deposits of Theta, so no use unless you already have some there.

Irish_rat

Dobbytoes wrote: »

Arbitrage opportunity with Theta on Kucoin, where it is currently trading over $0.60 higher than on other exchanges. I think Kucoin have run out of Theta, as they have cancelled withdrawals, but you could transfer Theta to Kucoin, sell for USDT, and buy back on Binance for a handy profit.

ETA: Scrap that. They have also cancelled deposits of Theta, so no use unless you already have some there.

This is insane, theta is quite hard to grab in the US as I don't think it's listed on binance us.

It's been on a serious charge lately. Mitch has been sending a lot of smileys in the chat for my liking, Sony is only some of the news filtering through I think.

Lex Luthor

no its not available on Binance US

when it becomes available on more exchanges thats when you will see major moves

Ronan|Raven

Dobbytoes wrote: »

Arbitrage opportunity with Theta on Kucoin, where it is currently trading over $0.60 higher than on other exchanges. I think Kucoin have run out of Theta, as they have cancelled withdrawals, but you could transfer Theta to Kucoin, sell for USDT, and buy back on Binance for a handy profit.

ETA: Scrap that. They have also cancelled deposits of Theta, so no use unless you already have some there.

I transferred a batch of Theta 36 hours ago, only just got it into my deposit acc in Kucoin. They killed all wallet activity shortly after listing.

Arbitage now gone since deposits fixed

Was nearly 95 US Cents in the difference shortly before 1:30pm between Kucoin and Binance alas what could have been... ****ers!

Irish_rat

Some rumours about apple being a possible validator. The enterprise node is located in Denmark beside their data centre. Sounds a bit far fetched but it seems something is brewing considering the price

Daithi40

So - thoughts please

I want MORE

but should I put it into Theta or TFuel??

el diablo

Daithi40 wrote: »

So - thoughts please

I want MORE but should I put it into Theta or TFuel??

Why not both....

Lex Luthor

Daithi40 wrote: »

So - thoughts please

I want MORE but should I put it into Theta or TFuel??

both but maybe more Theta than Tfuel

[Deleted User]

Ronan|Raven wrote: »

I transferred a batch of Theta 36 hours ago, only just got it into my deposit acc in Kucoin. They killed all wallet activity shortly after listing.

Arbitage now gone since deposits fixed Was nearly 95 US Cents in the difference shortly before 1:30pm between Kucoin and Binance alas what could have been... ****ers!

I had a couple of hundred Theta on Kucoin and tried to withdraw them to my Theta wallet. The withdrawal was stuck at "processing" and eventually failed. Then I spotted how high it was trading on Kucoin, so I sold them for USDT, which I transferred to Binance, where I quickly used it to re-buy Theta. Made 35 Theta for my five minutes work!

Ronan|Raven

Dobbytoes wrote: »

I had a couple of hundred Theta on Kucoin and tried to withdraw them to my Theta wallet. The withdrawal was stuck at "processing" and eventually failed. Then I spotted how high it was trading on Kucoin, so I sold them for USDT, which I transferred to Binance, where I quickly used it to re-buy Theta. Made 35 Theta for my five minutes work!

Excellent! Nicely done.